Alternative Currency Rate definition

Alternative Currency Rate means the Alternative Currency Daily Rate or the Alternative Currency Term Rate, as applicable.

Alternative Currency Rate means, with respect to any Alternative Currency on any day, the sum of (a) the rate that represents the cost to Chase of overnight funds as of such day in the applicable Alternative Currency (in any currency market selected by Chase for the purpose of quoting such rate, regardless of whether Chase actually borrows funds in such market on such day) plus (b) the Applicable Rate with respect to Eurodollar Revolving Loans.

Alternative Currency Rate means the Alternative Currency Daily Rate or the Alternative Currency Term Rate, as applicable. With respect to any Alternative Currency Rate, the Administrative Agent will have the right to make Alternative Currency Conforming Changes from time to time and, notwithstanding anything to the contrary herein, in this Agreement or in any other Loan Document, any amendments implementing such Alternative Currency Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document; provided, that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such Alternative Currency Conforming Changes to the Borrower and the Revolving Credit Lenders reasonably promptly after such amendment becomes effective. Notwithstanding the foregoing, if in connection with any request for an Alternative Currency Loan or a continuation of any of such Loans, as applicable, (A) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (x) no Successor Rate for the Relevant Rate for the applicable currency has been determined in accordance with clause (b) below and the circumstances under clause (b)(x) below or the Alternative Currency Scheduled Unavailability Date has occurred with respect to such Relevant Rate (as applicable), or (y) adequate and reasonable means do not otherwise exist for determining the Relevant Rate for the applicable currency for any determination date(s) or requested Interest Period, as applicable, with respect to a proposed Alternative Currency Loan, or (B) the Administrative Agent or the Required Revolving Credit Lenders determine that for any reason that the Relevant Rate with respect to a proposed Loan denominated in a currency for any requested Interest Period or determination date(s) does not adequately and fairly reflect the cost to such Lenders of funding such Revolving Credit Loan, the Administrative Agent will promptly so notify the Borrower and each Revolving Credit Lender. Thereafter, (x) the obligation of the Revolving Credit Lenders to make or maintain Revolving Credit Loans in the affected currencies, as applicable, shall be suspended in each case to the extent of the affected Alternative Currency Loans or Interest Period or determination date(s), as applicable, in each case until the Administrative Agent (or, in the case of a determination by the Required Revolving Cre...

Examples of Alternative Currency Rate in a sentence

• Swingline Alternative Currency Loans shall bear interest at the applicable Swingline Alternative Currency Rate.

• In the case of any such request with respect to the making of Alternative Currency Rate Loans, such request shall be subject to the approval of the Administrative Agent and the Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.

• Each Lender (in the case of any such request pertaining to Alternative Currency Rate Loans) or the applicable L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.

• Borrowings under the Revolving Credit Facility that are denominated in a currency other than Dollars will bear interest at the Alternative Currency Rate for the Interest Period in effect for such borrowing plus an applicable margin of 1.50% per annum, which applicable margin is subject to four 25 bps step-ups (i.e. 1.75%, 2.00%, 2.25% or 2.50% per annum) based upon the Company’s total net leverage ratio.

• In the case of any such request pertaining to Alternative Currency Rate Loans, the Administrative Agent shall promptly notify each Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof.

More Definitions of Alternative Currency Rate

Alternative Currency Rate means, for any Interest Period, with respect to any Loan:

Alternative Currency Rate means, for any Eurodollar Rate Loan denominated in Sterling, LIBOR, for any Eurodollar Rate Loan denominated in Canadian Dollars, the CDOR Rate, and for any Eurodollar Rate Loan denominated in Euros, the EURIBOR Rate, as applicable.

Alternative Currency Rate means (a) in respect of Dollar Denominated Loans,Euro Denominated Loans, Sterling Denominated Loans, Australian Dollar Denominated Loans and Canadian Dollar Denominated Loans, the applicable Eurocurrency Rate and (b) in respect of Loans denominated in an Alternative Currency other than Dollars, Australian Dollars, Canadian Dollars, Euros and Pounds Sterling, a rate agreed to by the Borrower, the Administrative Agent and the Revolving Credit Lenders at the time that such Alternative Currency is approved in accordance with the definition thereof; provided that the Alternative Currency Rate shall never be deemed to be less than 0.00%.

Alternative Currency Rate means, with respect to an Alternative Currency Loan that is (x) an Alternative Currency Daily Rate Loans, the Alternative Currency Daily Rate and (y) an Alternative Currency Term Rate Loan, the Alternative Currency Term Rate. [Credit Agreement]

Alternative Currency Rate means, with respect to any Alternative Currency Funding, the annual rate equal to the sum of (i) the Alternative Currency Base Rate, and (ii) the applicable LIBO Rate Margin.

Alternative Currency Rate means (a) in respect of Dollar Denominated Loans, Euro Denominated Loans, Sterling Denominated Loans, Australian Dollar Denominated Loans, Canadian Dollar Denominated Loans and Japanese Yen Denominated Loans, the applicable Eurocurrency Rate and (b) in respect of Loans denominated in an Alternative Currency other than Dollars, Australian Dollars, Canadian Dollars, Euros, Pounds Sterling and Japanese Yen, a rate agreed to by the Borrower, the Administrative Agent and the Revolving Credit Lenders at the time that such Alternative Currency is approved in accordance with the definition thereof; provided that the Alternative Currency Rate shall never be deemed to be less than 0.00%.

Alternative Currency Rate means (a) in respect of Dollar Denominated Loans, Euro Denominated Loans, Sterling Denominated Loans, Australian Dollar Denominated Loans, Canadian Dollar Denominated Loans and Japanese Yen Denominated Loans, the applicable Eurocurrency Rate or Term SOFR, as applicable and (b) in respect of Loans denominated in an Alternative Currency other than Dollars, Australian Dollars, Canadian Dollars, Euros, Pounds Sterling and Japanese Yen, a rate agreed to by the Borrower, the Administrative Agent and the Revolving Credit Lenders at the time that such Alternative Currency is approved in accordance with the definition thereof; provided that the Alternative Currency Rate shall never be deemed to be less than 0.00%. “Alternative Currency Revolving Credit Loan” shall mean a Revolving Credit Loan denominated in an Alternative Currency. -6- #96562806v11